Will Mining Propel Bitcoin Price to $36k in 2019?
Bitcoin prices will reach $36,000 by the end of 2019. - According to Tom Lee (co-founder,Fundstrat Global Advisory)
What Market research said?
Analysis of the relationship between Bitcoin mining costs and price by Fundstrat’s Quantamental Strategist Sam Doctor has led the market research firm to predict the cryptocurrency’s range will fall between $20,000 and $64,000 by 2019 year end.
The calculations focused on Bitcoin Price to Mining Breakeven Cost Metric, known as P/BE, which Doctor says has “proven a reliable long-term support level.”
What are the predictions about Bitcoin prices?
We expect the mining economywill grow over the next several years, and project a BTC price of ~$36,000 by year end 2019 based on the historical average 1.8x P/BE multiple,”
The survey also contained a prediction question, with the highest number of respondents opting for a range of between $10,000 and $20,000 by the end of this year.